The bomb explodes as a parade of Ulster Defence Regiment (UDR) soldiers is making its way to the memorial and as people wait for the ceremony to begin. It blows out the wall of the Reading Rooms, where many of the victims are standing, burying them under rubble and hurling masonry towards the gathered crowd. Bystanders rush to free those trapped in the rubble.

Eleven people, all Protestant, are killed by the Provisional IRA that day, including three married couples. The dead are Wesley and Bertha Armstrong, Kitchener and Jessie Johnston, William and Agnes Mullan, John Megaw, Georgina Quinton, Marie Wilson, Samuel Gault, and Edward Armstrong. Armstrong is a serving Royal Ulster Constabulary (RUC) officer and Gault has recently left the force. Gordon Wilson, whose daughter Marie dies in the blast and who is himself injured, goes on to become a peace campaigner and member of Seanad Éireann. The twelfth fatality, Ronnie Hill, dies after spending 13 years in a coma. Sixty-three people are injured, including thirteen children. Ulster Unionist politicians Sam Foster and Jim Dixon are among the crowd. Dixon receives extensive head injuries but recovers. A local businessman captures the immediate aftermath of the bombing on video camera. His footage, showing the effects of the bombing, is broadcast on international television.

A few hours after the blast, the IRA calls a radio station and says it has abandoned a 150-pound bomb in Tullyhommon, twenty miles away, after it failed to detonate. That morning, a Remembrance Sunday parade, which includes many members of the Boys’ and Girls’ Brigades, has unwittingly gathered near the Tullyhommon bomb. Soldiers and RUC officers were also there, and the IRA says it attempted to trigger the bomb when soldiers were standing beside it. The bomb is defused by security forces and is found to have a command wire leading to a “firing point” across the border.

The bombing is seen by many Northern Irish Protestants as an attack on them, and loyalist paramilitaries ″retaliate″ with attacks on Catholic civilians. The day after the bombing, five Catholic teenagers are wounded in a shooting in Belfast, and a Protestant teenager is killed by the Ulster Defence Association after being mistaken for a Catholic. In the week after the bombing, there are fourteen gun and bomb attacks on Catholics in Belfast.

The Remembrance Day bombing has been described as a turning point in the Troubles and an incident that shook the IRA “to its core.”